Healthcare workers are prone to develop psychological distress due to overwhelming responsibilities. This can lower their job performance as well as patient satisfaction. Objectives: To assess the psychological well-being of doctors who were working in public and private hospitals of Gilgit-Baltistan, Pakistan. Methods: A cross-sectional study was conducted for six months, during which data were gathered from a sample of 214 participants chosen through non-probability convenient sampling at various public and private hospitals in the region. Data were analyzed using SPSS version 26.0. An Independent sample t-test was applied to compare the psychological well-being of doctors working in the public and private sectors. DASS scale and self-rated held were used to assess the mental health of doctors. Results: Among the 214 respondents, the majority were male doctors. Moreover, the study population’s majority was working in the public sector. It was noted that the majority of the study population lies in the normal to mild range of depression, anxiety, and stress. Results also revealed that there was no significant difference in the psychological health of doctors in public and private hospitals. Conclusion: It was concluded that the psychological health of doctors working in public and private hospitals of Gilgit Baltistan has no significant difference.